This is an archive. See the current website at www.ssp.harvard.edu.

Economics

Not all courses are available to SSP students. For example, some courses are offered only for graduate credit. Note especially any listed prerequisites.

Related Courses

  • CREA S-180 Effective Business Communication
  • EDUC S-037 Financial Management of Nonprofit Organizations

Related Subject

Economics courses are listed below.

Proficiency examination. Students who wish to enroll in starred (*) economics courses (ECON S-1010, ECON S-1012, ECON S-1123, ECON S-1536, and ECON S-1941) must pass a proficiency examination in addition to meeting other prerequisites. The examination requires students to demonstrate a command of fundamental concepts and tools of economic analysis and an understanding of the mathematical techniques that facilitate their exact presentation and generalization. In addition to facility with algebra and graphical techniques, students are expected to be familiar with topics from introductory differential and integral calculus, including partial derivatives, logarithmic and exponential functions, and basic statistics. Harvard College students see additional information about exemptions from the proficiency examination.

The proficiency examination is given in room 105 of Emerson Hall on Monday, June 25, at 7 pm and on Tuesday, June 26, at 4 pm. Results are available Wednesday, June 27, at 10 am. Download a sample of the economics proficiency exam.

Students who register for one or more starred (*) courses should have alternate courses in mind in case they do not pass the proficiency examination. They are advised to select alternate courses that are less technically oriented—for example, ECON S-192 as an alternate for ECON S-1941. When the course schedule permits, students should attend their alternate as well as starred (*) courses until they learn the test results. Students who do not pass the proficiency examination are withdrawn automatically from starred (*) courses. They must submit a written request to the Registrar's Office by June 29 (the course change deadline) to be registered in alternate courses. This policy cannot be waived by course instructors.

Courselist

ECON S-10ab Principles of Economics (30057)
(Website) (Print version)
James L. Medoff
(8 credits: UN, NC) M-F 9-11 am, Harvard Hall, Room 104. Eight-week session. Optional sections to be arranged. Tuition $4,550.
Harvard College students see additional information.

This course covers both micro- and macroeconomics. The subjects studied include the workings of the market mechanism—how supply and demand determine the quantities and prices of goods and factors of production and international trade, and how quantities and prices are affected by government intervention. The macroeconomic subjects include the determinants of economic growth, financial institutions, short-run fluctuations in output and employment, inflation, macroeconomics of the open economy, and the role of government policy. Prerequisites: Elementary algebra and geometry.

ECON S-10a Principles of Economics: Microeconomics (30056)
(Print version)
Hossein S. Kazemi
(4 credits: UN, NC) M,W 9:30 am-noon, Harvard Hall, Room 202. Eight-week session. Optional sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

This course offers an introduction to the market system, emphasizing economic interactions among individuals, business firms, and government. Topics include supply and demand, economic decision making, social efficiency, perfect and imperfect competition, labor markets, capital markets, and market failures. Issues such as the environment, taxation, and income distribution are addressed. This course is equivalent to the first half of ECON S-10ab. Prerequisites: Elementary algebra and geometry.

ECON S-10b Principles of Economics: Macroeconomics (30058)
(Print version)
Daniel Barbezat
(4 credits: UN, NC) T,Th 3:30-6 pm, Harvard Hall, Room 104. Eight-week session. Required sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

This introduction to macroeconomic theory and policy emphasizes the overall performance of the national economy. Topics include economic growth, financial markets, and the causes and consequences of short-term movements in gross domestic product, unemployment, interest rates, inflation, the budget deficit, and the trade deficit. The course also covers key policy-making institutions, such as the Federal Reserve, and controversies over the proper role of government in stabilizing the economy. Prerequisites: Elementary algebra and geometry.

ECON S-110 Quantitative Methods in Economics and Business (30852)
(Syllabus) (Print version)
Subramanian Swamy
(4 credits: UN, NC) T,Th 12:30-3 pm, Science Center, Room 221. Eight-week session. Required sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

This course covers the fundamental and main mathematical tools used in modern economics and business studies. Topics include elementary set theory, introductory linear algebra including matrices, and multivariate calculus with applications to unconstrained and constrained optimization. Illustrations and examples are drawn from practical applications to problems in economics and business. This course is particularly recommended for students intending to study advanced economics, finance theory, and graduate business courses. Prerequisites: Knowledge of basic differential calculus of one variable is assumed. ECON S-10ab is very helpful but not required.

ECON S-190 Introduction to Managerial Finance (30298)
(Syllabus) (Print version)
James E. Owers
(4 credits: UN, NC) M,W 6-8:30 pm, Harvard Hall, Room 103. Eight-week session. Tuition $2,275.
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Students examine the practices and perspectives of financial management, with reference to the foundations of modern finance: economics, managerial organization, and accounting. This course builds analytical and quantitative skills in several topic areas: financial condition and performance, financial planning and control, working capital management, long-term asset decisions, and financial and capital structure. It introduces the processes of financial engineering, innovation, and restructuring. The roles of economic value added and the balanced scorecard in developing managerial strategies and incentive structures are also discussed. Prerequisite: ECON S-10ab or the equivalent.

ECON S-192 Introduction to Capital Markets and Investments (30060)
(Print version)
Hossein S. Kazemi
(4 credits: UN, NC) M,W 12:30-3 pm, Harvard Hall, Room 102. Eight-week session. Required sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

Students are introduced to investment analysis, including the functioning of capital markets, changes in markets, and analysis and tests of the efficient market hypothesis; portfolio theory; risk/return paradigms; and valuation theory applied to the aggregate market, industries, and firms. Topics covered include the analysis and interpretation of financial statements, and an introduction to options, futures, and derivative securities. Prerequisite: ECON S-10ab, or the equivalent.

*ECON S-1010 Microeconomic Theory (30344)
(Print version)
Robert Neugeboren
(4 credits: UN, GR, NC) M,W 6-8:30 pm, 51 Brattle Street, Room 319. Eight-week session. Required sections T 6-7 pm. Tuition $2,275.
Harvard College students see additional information.

The focus of this course is on the optimizing behavior of individual consumers and firms and the coordination of these individual decisions through markets. Topics include the theory of the consumer, the theory of the firm, decisions involving time and risk, perfect competition, imperfect competition, general equilibrium, and welfare economics. Prerequisites: Pass proficiency examination; ECON S-10ab, or the equivalent.

*ECON S-1012 Macroeconomic Theory (30345)
(Print version)
Daniel Barbezat
(4 credits: UN, GR, NC) T,Th 9:30 am-noon, Sever Hall, Room 109. Eight-week session. Required sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

In this course we build models of national income determination, unemployment, inflation, and economic growth. In addition to looking at the domestic economy, we develop models of the macroeconomic effects of international trade. These models are used to analyze US fiscal and monetary policies and to sort out the controversies among the Monetarists, the New Keynesians, and New Classicals. Prerequisites: Pass proficiency examination; ECON S-10ab, or the equivalent.

ECON S-1033 Study Abroad in Venice: Individual and Collective Decision Making (32133)
(Print version)
Iris Bohnet
Limited enrollment.
June 21-August 3. Study abroad programs are restricted to students 18 years of age or older.

See Study Abroad for more information.

ECON S-1050 Strategy, Conflict, and Cooperation (31594)
(Print version)
Robert Neugeboren
(4 credits: UN, GR, NC) T,Th 6-8:30 pm, Sever Hall, Room 214. Eight-week session. Required sections T 5-6 pm beginning Tuesday, July 3. Tuition $2,275.
Harvard College students see additional information.

This course is an introduction to "the strategic way of thinking" and a primer on game theory with applications to economics and other social sciences. Topics include the prisoner's dilemma and the arms race; dominance reasoning and the minimax theorem; mixed strategies and Nash equilibrium; bargaining and collective action; threats, promises, and negotiated games; and the evolution of cooperation. Prerequisite: ECON S-10ab, or the equivalent, or permission of the instructor.

ECON S-1056 Study Abroad in Venice: Artificial Economics (32134)
(Print version)
Paolo Pellizzari
Limited enrollment.
June 21-August 3. Study abroad programs are restricted to students 18 years of age or older.

See Study Abroad for more information.

*ECON S-1123 Introduction to Econometrics (31837)
(Syllabus) (Print version)
Can Erbil and Daniela Kolusheva
(4 credits: UN, GR, NC) M,W 9:30 am-noon, Sever Hall, Room 109. Eight-week session. Optional sections Th noon-1 pm. Tuition $2,275.
Harvard College students see additional information.

This course is an introduction to multiple regression methods for analyzing data in economics and related fields. Students learn how to conduct empirical studies, as well as how to analyze and interpret results from other empirical works. The emphasis is on gaining an intuitive understanding of the principles of econometric analysis and applying them to actual data. We start with the basics of statistics, including some probability theory and basic concepts in sampling, estimation, and hypothesis testing. Topics such as multiple regression techniques as well as issues related to departures from the standard assumptions on the error structure comprise the main subjects to be discussed. Aside from specification and data problems and the procedures to correct for measurement errors, the use of instrumental variables, probit/logit, panel data models, and basic time series methods are also part of the course agenda. Prerequisite: Pass proficiency examination; STAT S-100, or the equivalent.

ECON S-1316 Economic Development in India and East Asia (31522)
(Syllabus) (Print version)
Subramanian Swamy
(4 credits: UN, GR, NC) M,W 3:30-6 pm, Science Center, Room 109. Eight-week session. Required sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

This course covers modern economic development and reforms of the Indian economy, comparing it to Chinese and other East Asian economies. The course reviews the quantitative performance of these economies, their respective strengths and weaknesses, the anticipated course of future reforms, and the likely scenarios in these countries in the next two decades. It identifies potential paths of economic development that are feasible in the context of globalization, privatization, and financial architecture that are consistent with GATT and WTO rules. Topics covered also include the impact of information technology, the concept of governance, and the consequences of population growth. The course includes an analysis of why the Soviet-style command economy failed in India and China, and the causes of the 1997 East Asian crisis. Prerequisite: ECON S-10ab, or the equivalent, or permission of the instructor.

ECON S-1339 Study Abroad in Venice: Business History in a Long-term Perspective (32135)
(Print version)
Giovanni Favero
Limited enrollment.
June 21-August 3. Study abroad programs are restricted to students 18 years of age or older.

See Study Abroad for more information.

ECON S-1452 Money, Financial Institutions, and Markets (31138)
(Website) (Print version)
Bruce D. Watson and James E. Owers
(4 credits: UN, GR, NC) M,W 3:30-6 pm, Harvard Hall, Room 104. Eight-week session. Optional sections to be arranged. Tuition $2,275.
Harvard College students see additional information. Online and on-campus options. See Distance Education.

This course provides an introductory survey of the field of finance. It examines the agents, instruments, and institutions that make up the financial system of the modern economy, such as bonds, the stock market, derivatives, and the money market. Along the way, standard concepts and tools of financial analysis are introduced: present discounted value, option value, and the efficient markets hypothesis. Recent developments in the field—in particular, the application of psychology to financial markets (called behavioral finance)—also are discussed. The course assumes no prior knowledge of finance or investments. Prerequisite: ECON S-10ab, or the equivalent.

ECON S-1476 International Corporate Governance (31388)
(Print version)
Charles A. Moran
(4 credits: UN, GR, NC) M-Th 3:30-6 pm, Sever Hall, Room 214. Short session I. Optional sections to be arranged. Tuition $2,275.
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This course examines international corporate governance topics that collectively are termed agency theory in modern finance, as applied to the corporation, with focus on the separation of ownership and control and related issues. The formal and informal contracts that bind together shareholders, bondholders, directors, managers, employees, suppliers, customers, and communities are explored. The collaborative efforts as well as the potential conflicts of interest of these various constituencies are analyzed in the context of a changing legislative and regulatory environment. This enables us to evaluate the effectiveness of how corporate objectives are determined and achieved in the United States, Great Britain, Germany, and Japan. Selected cases and readings illustrate research findings and highlight key issues in international corporate governance. The issues raised by recent scandals are integrated into class discussions. Prerequisites: ECON S-10ab, or the equivalent, or permission of the instructor; ECON S-190 desirable.

*ECON S-1536 International Trade and Globalization (32146)
(Syllabus) (Print version)
Aryeh Blumberg, Can Erbil, and Peter Zamborsky
(4 credits: UN, GR, NC) M,W 12:30-3 pm, Sever Hall, Room 105. Eight-week session. Tuition $2,275.
Harvard College students see additional information.

The course focuses on the fundamental principles that underlie international trade: the gains from trade and comparative advantage. It covers the Ricardian trade model, the Heckscher-Ohlin model, factor price equalization, and more recent developments in international trade, such as distortions and trade policy, openness indices, trade and growth, customs unions, international factor mobility, outsourcing, and global integration. The course uses data sources that provide an insight into past and recent international trade flows and the increasing trend of globalization. Case studies are employed to provide a deeper understanding of the current issues and debates surrounding international trade and globalization, such as outsourcing, trade disputes, and trade talks. Emphasis is placed on empirical evidence, testing theory, and a brief historical review of how globalization evolved. Policy guidelines from predominant international institutions, such as the World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank, toward openness and globalization are used as real life examples. Prerequisites: Pass proficiency examination; ECON S-10ab, or the equivalent.

ECON S-1620 Organizations, Management Behavior, and Economics (31390)
(Print version)
Charles A. Moran
(4 credits: UN, GR, NC) M-Th 12:30-3 pm, Sever Hall, Room 214. Short session I. Optional sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

This course examines topics that can be collectively termed contracts and business organization. The problem of economic organization and the problem of social cost are considered along with efficient incentives (contracts and ownership), design and dynamics of organizations, motivation (contracts, information, and incentives), and employment incentives (contracts, compensation, and careers). Economic theories of organizations and management are explored using selected cases and readings to illustrate research findings and highlight key issues, including international dimensions. The evolution of corporate structure is considered as a basis for development of a model for the future relationship of economics, organizations, and management behavior. This includes consideration of nontraditional organization and management models to address current and future effectiveness and efficiency of organizations. Prerequisite: ECON S-10ab, or the equivalent, or permission of the instructor.

ECON S-1749 Study Abroad in Venice: International Corporate Finance (31988)
(Print version)
Guido Max Mantovani
Limited enrollment.
June 21-August 3. Study Abroad Programs are restricted to students 18 years of age or older.

See Study Abroad for more information.

ECON S-1824 Study Abroad in Venice: Economics of Education (31935)
(Print version)
Susan Marie Dynarski
Limited enrollment.
June 21-August 3. Study abroad programs are restricted to students 18 years of age or older.

See Study Abroad for more information.

ECON S-1900 Financial Accounting
(4 credits: UN, GR, NC) Eight-week session. Tuition $2,275.
Harvard College students see additional information.

Section 1 (30071) (Syllabus) (Print version)
Richard A. Rivers, M,W 6-8:30 pm, Sever Hall, Room 102.

Section 2 (30072) (Syllabus) (Print version)
Richard A. Rivers, T,Th 3:30-6 pm, Sever Hall, Room 102.

This course is an introduction to financial accounting, its concepts, and the techniques of recording, summarizing, and reporting the flow of financial information through the entity concerned. It offers an understanding of the information flow process and the necessary techniques for analysis and evaluation of the firm's potential in light of historical data.

ECON S-1901 Managerial Accounting (30073)
(Syllabus) (Print version)
Lynn W. Marples
(4 credits: UN, GR, NC) T,Th 6-8:30 pm, Sever Hall, Room 202. Eight-week session. Tuition $2,275.
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This course introduces the principles and methods of data collection and presentation for planning and control, performance evaluation, and management decision making. It emphasizes product costing (both traditional and activity based), cost-volume profit analysis, operating and capital budgeting, evaluation of business operating segments, transfer pricing, and relevant costs for decision making. Prerequisite: ECON S-1900, or the equivalent.

ECON S-1911 Capital Acquisition and the Investment Banking Process (31601)
(Print version)
Bing-Xuan Lin
(4 credits: UN, GR, NC) M-Th 12:30-3 pm, Sever Hall, Room 214. Short session II. Tuition $2,275. Limited enrollment.
Harvard College students see additional information.

This course provides students with a fundamental understanding of the role of investment banks and how they operate. It provides a framework for analysis of the various business activities of an investment bank such as capital raising, IPOs, equity research, market making, asset securitization, mergers and acquisitions, foreign listings, and money management. The course also employs Harvard Business School cases and selected investment banking industry material to examine and illustrate topics covered. Additionally, current transactions and timely issues as reported in the business press are related to course coverage. Prerequisites: ECON S-190, ECON S-192, or the equivalent or permission of the instructor.

ECON S-1913 Financial Strategy and Behavioral Finance (31733)
(Print version)
C. Bülent Aybar
(4 credits: UN, GR, NC) T,Th 12:30-3 pm, Harvard Hall, Room 103. Eight-week session. Optional sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

This course is designed to provide an understanding of financial strategies and how they are influenced by behavioral finance. It is divided into three modules. In the first module, topics include capital budgeting, capital structure, dividend policies, valuation, risk management, mergers, and investments. The second module considers the new field of behavioral finance. After reviewing the basic assumptions and the issues highlighted by behavioral finance, the implications of these for traditional financial concepts and strategies are considered. The third module applies the analytical techniques and theories from finance topics in Harvard Business School cases. This provides a framework for examining how traditional finance is being influenced by the evolving contributions of behavioral finance. The three modules are integrated in one course in order to illustrate the relationship between traditional finance and behavioral finance. Prerequisite: ECON S-190, ECON S-192, or the equivalent, or permission of the instructor.

*ECON S-1941 Derivatives and Risk Management: Analytics and Applications (31602)
(Print version)
C. Bülent Aybar and Lal C. Chugh
(4 credits: UN, GR, NC) T,Th 6-8:30 pm, Harvard Hall, Room 103. Eight-week session. Optional sections to be arranged. Tuition $2,275.
Harvard College students see additional information.

This is a course on the analytics of financial derivatives and risk management. The course examines the pricing of (and hedging with) options, futures, and swaps. It reviews the necessary concepts from fixed income securities (such as duration). This course also covers value at risk (VaR), and the calculation of VaR both for a single security as well as for portfolios. The concept of insurance as a risk management tool is also discussed. The course includes discussion of practical applications of risk management tools. Prerequisites: ECON S-190, ECON S-192, or permission of the instructor; also pass proficiency examination. No previous computer experience required.

 



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